Home Database Retail & ConsumerVertbaudet

07/2021MajorityLBO

Equistone takes majority stake in Vertbaudet

FRANCE Retail / Specialized Retail / Fashion & Apparel EV €100–350M

Context

Equistone Partners Europe has finalized the acquisition of a majority stake in Vertbaudet from Alpha Private Equity. The transaction marks a new chapter for the childhood specialist following a successful repositioning strategy initiated in 2015, which shifted the business from traditional mail-order to a digital-first platform. The executive team reinvested alongside Equistone to maintain operational continuity. The deal was completed on July 22, 2021, following the regulatory carve-out of Cyrillus (sold separately to MGA Paris). Despite the global pandemic, Vertbaudet demonstrated significant resilience, growing its turnover by 8% in 2020. The partnership intends to fuel further product diversification and strengthen the group's presence in Northern and Southern European markets.

In the past, Vertbaudet was acquired by Alpha Private Equity in 2013 as part of its expansion strategy.

Vertbaudet, which reported an EBITDA margin of [members only] in 2021, is valued in this transaction at an EV/EBITDA multiple of 5x–12x.

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Target

Founded in 1963, Vertbaudet has evolved into Europe’s leading e-commerce platform dedicated to childhood, encompassing apparel, footwear, childcare essentials, toys, and home decor. The group operates a robust omnichannel model; while maintaining a network of 75 physical stores in France, over 80% of its sales are generated digitally. Vertbaudet serves a loyal international customer base across eight European countries, including Germany, the UK, and the Iberian Peninsula. Its value proposition centers on a "one-stop-shop" experience for parents, combining proprietary designs with a high-performance digital marketplace. Strategically, the firm successfully decoupled from its sister brand, Cyrillus, in 2021 to focus exclusively on its high-growth childhood specialty.

Ent. Value

€100–350M

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2021

2020

Other operations with Vertbaudet

Other operations with Vertbaudet
Date	Acquirer	Target	Country	Sector
03/2013	ALPHA PRIVATE EQUITY	VERTBAUDET	FRANCE	Fashion & Apparel

Other operations with Equistone

Other operations with Equistone
Date	Acquirer	Target	Country	Sector
07/2022	EQUISTONE / ALPINVEST	SICAME	FRANCE	Electrical Equipment
06/2022	EQUISTONE / IK PARTNERS / SAGARD / EMZ PARTNERS / SOCIETE GENERALE CAPITAL PARTENAIRES	SAFIC-ALCAN	FRANCE	Specialty Chemicals
09/2019	EQUISTONE	ACCES INDUSTRIE	FRANCE	Equipment Rental
08/2019	EQUISTONE / SAGARD	VULCAIN INGENIERIE	FRANCE	Engineering & Consulting
02/2019	EQUISTONE	COURIR	FRANCE	Sport
04/2018	EQUISTONE	KARAVEL	FRANCE	Tour Operators
07/2017	EQUISTONE	GROUPE BRUNEAU	FRANCE	Office Supplies & Furniture
07/2016	EQUISTONE / GEI	ADISTA	FRANCE	MSP (Managed Services)
01/2016	EQUISTONE	NOVARES	FRANCE	Auto Parts & Systems
12/2015	EQUISTONE	SICAME	FRANCE	Electrical Equipment

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REFERENCES

Valuation range: EV €100–350M

Revenue range: €250–500M

EBITDA range: €25–50M

EV/Revenue range: below 1.5x

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Vertbaudet by Equistone are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Vertbaudet, a French company specialised in Specialized Retail, by Equistone in 2021, structured as a leveraged buyout (LBO). This followed an earlier holding cycle initiated in March 2013, when the company was acquired by Alpha Private Equity.

How was the acquisition of Vertbaudet by Equistone valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €100–350M band, its EV/EBITDA multiple within the 5x - 12x range, and its EV/revenue multiple within the below 1.5x range. Exact figures are available to members.

What were Vertbaudet’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Vertbaudet generated annual revenue estimated in the €250–500M range and EBITDA in the €25–50M bracket (FY 2021). Detailed financial figures are available to members.

What sources support the information on this transaction?

Information on this transaction is supported by three corroborating sources: an official corporate announcement published by the parties, independent reporting from specialized financial publications, as well as a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

What is mynth?

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